Oil prices rise 1%, on pace for monthly gain as Israel-Lebanon tensions simmer
Publishing timestamp: 2024-06-24 15:21:51
Summary
Oil prices are on track for monthly gains, driven by hopes of tightening market due to summer fuel demand and geopolitical tensions in the Middle East. Analysts predict that global oil inventories will decrease during the summer, leading to price strength. Various factors such as supply risks, output cuts by OPEC+, and increased fuel demand are influencing the oil market.
Sentiment: MIXED
Tickers: %40RB.1?QSEARCHTERM=%40RB, @LCO.1, @CL.1, @NG.1,
Keywords: investment strategy, natural gas (mar'23), ice brent crude (apr'23), oil and gas, wti crude (mar'23), markets, business news, breaking news: markets,
Source: https://www.cnbc.com/2024/06/24/crude-oil-prices-today.html